Discover How an International Insurance Organization Realized 30% Overall Financial Savings and Achieved 100% SLA Performance

Discover How an International Insurance Organization Realized 30% Overall Financial Savings and Achieved 100% SLA Performance

Situation Analysis The company was facing enormous pressure to be more efficient and reduce administrative costs while providing necessary document management services to its business units. A continued decline in paper-based activity made it challenging to continue these services and maintain client satisfaction at an acceptable cost. Increasing labor costs of 100+ employees, long-term commitments to dedicated facilities, as well as the continued need to invest in equipment and technology added to that challenge.

Although this in-house print and mail operation had admirably worked to stay on pace with these challenges, it could not meet the ever-changing document output requirements of the business units it supported. Based on current business conditions, this client was looking to return to core competencies and exit the print and mail business. The client facility, located in the New York metropolitan area, provided an excellent site for an EDM “Center of Excellence.” This document processing super-center would incorporate EDM’s print and mail fulfillment communications and data capture/processing.

Why EDM?

EDM’s core business is providing secure, compliant information management solutions that perfect business processes. By transitioning the management and operations of its in-house print/mail facility to EDM, the client was able to focus on its core competencies—delivering high quality financial and insurance products to individuals and corporate entities worldwide.

Added ValueThe EDM team is responsive to evolving client needs, continually investing in technology and following best practices in out-sourcing, automating business processes and improving workflow. Leading healthcare, government, professional services, and insurance organizations trust EDM to handle their essential business functions seamlessly and compliantly so they can focus on what they do best.

We expertly print and mail outbound communications for clients and also deliver added benefit through our scanning, indexing and online document retrieval services.

Aggregating our clients’ in-house operations into our own provides economies of scale and maintains a competitive profile for infrastructure, facilities and technologies. EDM’s operational redundancies ensure continuous, secure operations, market-sized production capacity and a greater breadth and depth of services.

Challenge

  • Long-term lease commitments for facility and equipment
  • Increasing administrative, labor and benefit costs
  • Continuous equipment/technology investments required to remain competitive
  • Declining paper-based activities of 10+% annually
  • In-house print and mail function was a distraction from core competencies
  • Inconsistent with green initiative

Solution

The client was relieved of its threefold burden of managing the People, securing the Processes, and keeping up with the constant Technology changes required to maintain best-in-class outbound client communications. EDM was able to assume these responsibilities through seamless, cost-effective transitional measures while implementing process efficiencies realized by the client’s business units. Not only did this arrangement provide obvious efficiencies and cost savings, it also offered peace of mind.

Results

  • 30% overall savings
  • 100% SLA performance
  • No service interruptions
  • Smooth transition of technology infrastructure
  • Re-badged over 100 client employees to EDM
  • Provided new career paths and growth and development opportunities for employees
  • EDM assumed all real estate, equipment, software leases, and material sourcing functions
  • Realized immediate organizational savings of 3%, growing to 14% savings over 5 years
  • Urban Enterprise Zone status extended

Request a Quote